New Delhi: In a significant move, the Cabinet Committee on Economic Affairs (CCEA) on Tuesday approved investment of Rs 8,146.21 crore for the construction of Tato-II Hydro Electric Project (HEP) in Shi Yomi District, Arunachal Pradesh.
The estimated completion period for the project is 72 months. The project with an installed capacity of 700 MW (4 x 175 MW) would produce 2738.06 MU of energy, according to the CCEA meeting, chaired by Prime Minister Narendra Modi.
The power generated from the project will help improve the power supply position in the state of Arunachal Pradesh and will also help in balancing the National Grid.
The project will be implemented through a joint venture between North Eastern Electric Power Corporation Ltd. (NEEPCO) and the government of Arunachal Pradesh.
The Centre will extend Rs 458.79 crore as budgetary support for the construction of roads, bridges and associated transmission line under enabling infrastructure, besides Central Financial Assistance of Rs 436.13 crore towards equity share of the state.
According to the CCEA, the state would benefit from 12 per cent free power and another 1 per cent towards the Local Area Development Fund (LADF), besides significant infrastructure improvement and socio-economic development of the region.
There will be significant improvement in infrastructure, including the development of around 32.88 kilometres of roads and bridges, for the project, which shall be mostly available for local use.
The district will also benefit from the construction of essential infrastructure such as hospitals, schools, marketplaces, playgrounds, etc. to be financed from dedicated project funds of Rs 20 crore.
Local population will also benefit from many sorts of compensations, employment and CSR activities, according to CCEA.
(IANS)
